July 14, 2024

California economyAccording to census estimates the number of people leaving California for another state outstripped the number moving in from another state during the year ending on July 1, 2008. California lost a net total of 144,000 people during that period — more than any other state.

Not to worry; California will not be empty any time soon. Actually, California continues to increase in overall population because of births and immigration, legal and illegal. It is the fourth consecutive year that more residents have left from California for other states than arrived in California from within the United States.

Why are are they moving?

#1. California's unemployment rate hit 8.4 percent in November, the third-highest in the nation, and it is expected to get worse.

#2. A record number of home foreclosures.

#3. Personal income was flat last year.

#4.  A $41.6 billion budget hole over 18 months, have residents bracing for higher taxes, cuts in education and postponed tax rebates. 

#5. Office vacancy rates in San Diego and San Jose surpass the 10.2 percent national average.

#6. Median housing prices have nose-dived one-third from a 2006 peak, but many homes are still out of reach for middle-class families.                                                     San Diego real estate agents

4 thoughts on “Californians Pack Their Bags for Other States

  1. We must blame the President; surely he must have been wrong. We blame him for everything including continental drift, whenever there is a problem or a minor rift. Wonder who we can start to blame next week. It won’t be P.C. to blame the new prez.
    LA Legal Advice

  2. I’m confident that there is a silver lining in all of this. I envision that one day in the near future, we will encounter nothing but smooth transactions without all of the “mortgage drama” ….”Lender abuse”…and the old-fashioned “bait and switch” so rampant in the 1990s and early 2000s. Thank God! Goodbye problem children! Nice to see you go.
    San Diego Dermatologist/em>

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